6 Steps To Keep Pace With The Omnichannel Consumer


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Today’s consumers are jumping from one channel to another to browse and buy. As a result, these savvy shoppers are demanding more unified retail experiences, and expect inventory, pricing, offers and marketing messages to be consistent across all channels.

To keep pace with empowered consumers, retailers must transition to omnichannel operations. During the webinar, titled: 6 Steps To Keep Pace With The Omnichannel Consumer, Heidi Chapnick, CEO of Channalysis, will discuss the key challenges retailers face as their customers become more educated and hyper-connected. Chapnick also will share her blueprint for creating a winning omnichannel strategy.

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6 Steps To Keep Pace With The Omnichannel Consumer

  1. 1. 6  Steps  To  Keep  Pace  With  The  Omnichannel   Consumer   Webinar  Sponsored  by   #omnichannel  
  2. 2. Welcome  Webinar  A5endees   Type  ques:on  here   #omnichannel  
  3. 3. Follow  This  Webinar  On  Twi5er   #omnichannel #omnichannel  
  4. 4. About  Retail  TouchPoints  ü  Launched in 2007ü  Over 26,000 subscribersü  To provide executives with relevant, insightful content across a variety of digital medium Free subscription to our weekly newsletter: WWW.RETAILTOUCHPOINTS.COM/SIGNUP #omnichannel  
  5. 5. Panelists   MODERATOR Heidi Chapnick Debbie Hauss CEO Editor-in-Chief Channalysis Retail TouchPoints#omnichannel  
  6. 6. Technology  Invades  The     Shopping  Experience   Nearly  of  consumers  use  some   of  shoppers  use  three  or  type  of  technology  when   more  technologies  while  they  shop.     shopping.     Source:  Winning  Over  the  Empowered  Consumer:  Why  Trust  Ma5ers,  IBM     #omnichannel  
  7. 7. Social  Media  Facilitates     More  Efficient  Shopping   of  shoppers  believe  they  can  save  Lme   by  using  social  media  recommendaLons   to  help  them  make  purchasing   decisions.   Source:  Winning  Over  the  Empowered  Consumer:  Why  Trust  Ma5ers,  IBM    #omnichannel  
  8. 8. Steps  To  Achieving  Omnichannel     Retail  Success  Retail  leaders  are  taking  the  following  strategic  acLons  to  provide  similar  brand  experiences  across  all  channels:   ü  Ensure  product  availability  across  all   channels  (50%)   ü  Develop  an  omnichannel  markeLng  and   promoLons  plan  (31%)   ü  Establish  omnichannel  performance   metrics  (25%)     Source:  2012  Omni-­‐Channel  Retail  Experience,  Aberdeen  Group   #omnichannel  
  9. 9. The  Omnichannel  Retail  Leader  Macy’s,  Saks  and  other  leading  retailers  are  assigning  senior  management  to  Omnichannel  Ltles.      Keith  Campbell,  SVP  of  Merchandise  Planning  for  Saks,  has  been  named    Group  SVP  for  Merchandise  Planning.  He  will:   “lead  the  omnichannel  vision  for   merchandise  planning  and  allocaLon   to  maximize  inventory  across  channels   and  drive  profitable  volume  growth.”     Source:  Saks  Chairman  and  CEO  Stephen  Sadove,  in  a  Women’s  Wear  Daily  arLcle   #omnichannel  
  10. 10. Let’s  Hear  From  The  Experts   “C-­‐level  execuLves  are  saying   ‘omnichannel’  and  using  it  in  their   vocabulary,  but  they  really  don’t  “It  is  no  longer  efficient  to  leverage   know  how  to  truly  achieve  disparate  prices,  products  and   omnichannel,”  Chapnick  said.  “They  policies.  I  dont  think  you  can  draw   don’t  realize  that  they  need  to  those  lines  around  channels   change  their  infrastructure  and  get  anymore  because  it  alters  the   the  right  skill  sets  in  place  to  obtain  customer  experience.”   a  single,  cohesive  view  of  all     content  and  commerce  across  all   -­‐  Larry  Freed,  Foresee  Results   channels.”     -­‐  Heidi  Chapnick,  Channalysis     #omnichannel  
  11. 11. OMNI  Channel    Six  Steps  To  Success  From  Cross  Channel  to  MulL  Channel   to  Omni  Channel  …  the  ‘buzz’  word   may  change,  but  it  is  all  about   INTEROPERABILITY   Heidi  Chapnick/Retail  TouchPoints   11  
  12. 12. The  Six  Steps:  Cri:cal  Path  Towards  OMNI  Success   Heidi  Chapnick/Retail  TouchPoints   12  
  13. 13. Execu:ve  Engagement  In  rowing,  if  everyone  is  not  aligned  to  the  same  direcLon,  you’ll  be  off  course  quickly    The  fundamental  pillar  of  pivoLng  towards  success  is  to  have  ALL  employees  operaLng  in  unison,  based  on  the  strategy  set  by  the  execu:ve  team    Do  you  Have  Execu:ve  Alignment  In  Your  Organiza:on  For  OMNI?   q  Does  the  mission  and  vision  statement  of  your  enterprise  menLon  different   channels?   q  Are  the  corporate  goals  and  bonus  structures  focused  on  OMNI?   q  Do  you  have  a  fully  integrated  work  stream  or  are  you  siloed  by  funcLon  or   department?     q  Do  you  need  to  restructure  your  organizaLon  for  success?  DO  IT   q  Does  your  cap-­‐ex  funding  and  resources  reflect  the  future  of  OMNI  capabiliLes?     Heidi  Chapnick/Retail  TouchPoints   13  
  14. 14. The  Science  of  ROI  &  Analy:cs   If  every  decision  is  not  based  on  data,  you  are  in  trouble.    How  are  you  using  data?   q  What  analyLc  programs  are  you  using  to  capture  data?   q  Do  you  have  an  analyLcs  team?   q  How  do  you  know  what  good  looks  like?   q  Do  you  have  a  single  view  of  the  customer  data  between  all  channels?   q  What  acLons  are  you  taking  based  on  your  data?       q  How  are  you  measuring  changes?     Do  You  Know  How  To  Use  The  Data?   q  Needs  assessment  –  next  criLcal  step   q  External  landscape  analysis  by  channel   q  Create  acLonable  steps  to  use  data  to  drive  decisions   Heidi  Chapnick/Retail  TouchPoints   14  
  15. 15. IT  Engagement  Modeling   Invest  in  the  integra:on  of  your  backend  to  create  a  single   view  of  the  customer  across  all  systems  Are  All  Of  Your  Systems  Integrated  Across  All  Touch  Points?   q  How  are  IT  work  efforts  prioriLzed?   q  Be  transparent  -­‐  ImplementaLon  and  IntegraLon  should  not  be  ‘dirty’  words   q  Invest  in  the  integraLon  of    your  back  end.  Customer  service,  databases  and  storage  of   customer  informaLon   q  Balance  high  ROI  iniLaLves  with  customer  demands  (which  may  have  lower  ROI)  and   prioriLze  phased  implementaLons  Create  Governance  Processes   q  Become  a  collaboraLve  team  with  intense  focus  on  process  ,procedure  and  approvals   q  Collaborate  and  develop  a  roadmap  that  outlines  key  prioriLes    across  the  enterprise     q  Manage  what  you  create  (you  may  need  internal  or  external  resources)   Heidi  Chapnick/Retail  TouchPoints   15  
  16. 16. Opera:onal  Execu:on  /   Employee  Engagement  Opera:onal  Execu:on:   q     Strategy  is  already  set  …  now  land  the  dismount  with  perfect  execuLon   q     Failure  to  execute  will  dilute  results   q     How  are  you  measuring  and  monitoring  progress?    Employee  Engagement:   q     Do  you  have  the  right  talent  in  place?   q     Provide  support  and  on-­‐going  training  to  stay  on  top  of  changing  landscape   q     Engage  all  channels  to  support  OMNI   q     Create  OMNI  channel    goals  across    the  enterprise   q     Develop  incenLve  programs  that  focus  on  OMNI  channel  iniLaLves  and  results   Heidi  Chapnick/Retail  TouchPoints   16  
  17. 17. Marke:ng   Develop  marke:ng  plans  that  are  fully  integrated   across  all  channels    Marke:ng  Ini:a:ves:   q  Do  you  start  with  the  customer    needs  first  and  then  develop  your  markeLng  strategy?   q  It’s  all  about  relevance  to  the  customer.    Are  you  using  data  to  make  your  markeLng   relevant?   q  Stop  worrying  about  what  budget  the  money  is  coming  from  for  each  iniLaLve;  rather  build  a   holisLc  and  shared  budget  which  encompasses    all  channels   q  The  channel  is  up  to  the  customer,  but  they  need  to  know  that  you  support  all  channels   equally  and  with  the  same  value   q  Cross  funcLonal  teams  –  break  down  the  siloes   q  Ensure  that  markeLng  materials  focus  on  the  brand,  not  the  channel   q  How  many  email  lists  do  you  have?  How  many  databases  house  customer  informaLon?        Evaluate  your  markeLng  iniLaLves  by  enterprise  goals,  not  specific  channel  goals.    Keep  specific  channel  goals,  but  also  have  goals  and  objecLves  that  cross    departments.   Heidi  Chapnick/Retail  TouchPoints   17  
  18. 18. Customer  Centricity   Is  the  customer  at  the  center  of  everything  you  do?  What  Do  Customers  Really  Desire?   q It’s  all  about  convenience!    Customers  demand  to  interact  with  your   brands  in  mulLple  channels   q Integrate  customer  service  across  channels  ..  FULLY   q Need  a  single  view  of  the  customer  across  channels  -­‐  the  holy  grail   q Engage  your  customers  in  every  channel  they  encounter  your  brand   q Integrate  Voice  Of  Customer  tools  (Customer  Feedback,   RecommendaLons,  Social  Media,  RaLngs  and  Reviews,  Store  Heat   Mapping)   q Use  customer  data  to  build  your  roadmap  and  future  funcLonality       Heidi  Chapnick/Retail  TouchPoints   18  
  19. 19. Wrap  Up  Ask  Yourself  …     q Do  I  have  the  right  execuLve  engagement  and  alignment  and  direcLon  and   am  I  invesLng  in  the  evoluLon  of  an  OMNI  channel  enterprise?   q   Are  we  basing  our  prioriLzaLon  and  roadmap  and  other  decisions  on  data?   q Are  all  of  our  IT  platorms  integrated  to  provide  a  single  view  of  the   customer?   q Am  I  flawlessly  execuLng  the  strategy  and  engaging  all  employees?   q Do  I  have  a  fully  integrated  markeLng  strategy  across  all  channels?   q Have  I  developed  a  customer  centric  enterprise?     Heidi  Chapnick/Retail  TouchPoints   19  
  20. 20. Q&A  /  Submit  Your  QuesLons   Type  ques:on  here   #omnichannel  
  21. 21. Q&A  /  Panelists   MODERATOR Heidi Chapnick Debbie Hauss Channalysis Retail TouchPoints hchapnickm@aol.com debbie@retailtouchpoints.com#omnichannel  
  22. 22. Thank  you  for   a5ending!  Download  the  Omnichannel  Report:  h5p://rtou.ch/omnireport   #omnichannel